Trusted Insighthttp://thetrustedinsight.com/2017-08-10T16:02:04-04:00Trusted Insight, the world's largest platform for institutional investors with 40,000 LP investor professionals in 98 countries and territories around the globe. 30,000 institutional investors engage with Trusted Insight each week. They are actively investing in alternative assets, primarily private equity, hedge funds, real estate and private companies. Our users consist of pension funds, endowments, foundations, sovereign wealth funds, family offices, banks and insurance companies. 83% of Trusted Insight users continue to use the platform 6 months after initially signing up. Investors on the platform, on average manage in excess of $5 billion. We are a platform for qualified purchasers, not high net worth investors.
Benchmark Capital Sues Travis Kalanick For Fraud
2017-08-10T16:02:04-04:00https://www.thetrustedinsight.com/investment-news/benchmark-capital-sues-travis-kalanick-for-fraud-20170810430/
The battle between Benchmark Capital and Travis Kalanick just went nuclear, with the venture capital firm suing the former Uber CEO for fraud, breach of contract and breach of fiduciary duty. The complaint was filed earlier today in Delaware Chancery Court. Key graph, per the suit: &quot;Kalanick, the former CEO of Uber, to entrench himself on Uber&#39;s Board of Directors and increase his power over Uber for his own selfish ends.&nbsp;
Shkreli Convicted Of Securities Fraud, Blasts "Witch Hunt"
2017-08-08T15:36:06-04:00https://www.thetrustedinsight.com/investment-news/shkreli-convicted-of-securities-fraud-blasts-witch-hunt-20170808411/
Infamous former hedge fund manager and one-time pharmaceuticals company CEO Martin Shkreli was found guilty of three securities fraud-related charges on Friday, capping a month long trial and five days of jury deliberations.&nbsp; Shkreli was found guilty on two counts of securities fraud and one count of conspiracy, although the jury found him not guilty on five other conspiracy related charges. He faces up to 20 years in prison for the convictions, although legal experts were quick to point out he is unlikely to serve that much time. As securities fraud trials go, Shkreli&rsquo;s case was comparatively unique. None of...
Hedge Fund Manager Charged For Scamming Investors Out Of Millions
2017-08-08T15:10:59-04:00https://www.thetrustedinsight.com/investment-news/hedge-fund-manager-charged-for-scamming-investors-out-of-millions-20170808401/
A Ponzi-like scheme that would make Bernie Madoff proud has been uncovered in Boston, authorities say. Massachusetts officials have charged hedge-fund manager Raymond Montoya with scamming investors out of millions of dollars. On Wednesday, Montoya was charged by the feds with mail fraud and wire fraud, and then released after his appearance in federal court....
Former Hedge Fund Manager Gets Split Jury Verdict
2017-08-08T14:51:06-04:00https://www.thetrustedinsight.com/investment-news/former-hedge-fund-manager-gets-split-jury-verdict-20170808392/
<p>Former hedge fund manager and pharmaceutical executive Martin Shkreli was acquitted on five counts and convicted on three others under an indictment centered on conspiracy and securities fraud charges tied to three firms.&nbsp;<em>U.S. v. Shkreli,</em>&nbsp;No. 15-cr-637 (E.D.N.Y.). The verdict came after a six week jury trial.</p>
Ebullio Restructures, Leaving Trail Of Enraged Investors
2017-08-01T14:01:06-04:00https://www.thetrustedinsight.com/investment-news/ebullio-restructures-leaving-trail-of-enraged-investors-20170801310/
Fraud allegations follow hedge fund boss as whistleblowers dig in to prove regulatory inaction and auditor failings.
Russian Real Estate Tycoon Convicted, Freed
2017-07-12T14:43:15-04:00https://www.thetrustedinsight.com/investment-news/russian-real-estate-tycoon-convicted-freed-20170712974/
A Russian court has convicted flamboyant real-estate tycoon Sergei Polonsky of large-scale embezzlement but released him from custody, saying that the statute of limitations has expired. Here's what he was charge with.
Investor Tells Jurors She Felt Betrayed By Hedge Fund Operator Shkreli
2017-06-30T11:01:05-04:00https://www.thetrustedinsight.com/investment-news/investor-tells-jurors-she-felt-betrayed-by-hedge-fund-operator-shkreli-20170630747/
She testifies that the money manager accused of fraud told her she had made a big profit, then closed a hedge fund and avoided repaying her $300,000.
In Securities Fraud Trial, Shkreli's Attorney Says 'He Was Born This Way'
2017-06-29T15:11:04-04:00https://www.thetrustedinsight.com/investment-news/in-securities-fraud-trial-shkrelis-attorney-says-he-was-born-this-way-20170629714/
Martin Shkreli is odd, his attorney told a federal court on Wednesday. The former hedge fund manager&#39;s investors and colleagues made fun of him behind his back and wondered whether he was autistic. Some questioned his sexuality, the jury was told.&quot;Is he strange? Yes. Will you find him weird? Yes,&quot; said Shkreli&#39;s attorney Benjamin Brafman. &quot;But they [his investors] used his genius and made millions . . . despite his flaws and dysfunctional personality, [...]
US Top Court Buries CalPERS Lawsuit Over Lehman Collapse
2017-06-27T10:24:11-04:00https://www.thetrustedinsight.com/investment-news/us-top-court-buries-calpers-lawsuit-over-lehman-collapse-20170627631/
The U.S. Supreme Court on Monday upheld the dismissal of a securities fraud lawsuit by a big California pension fund against banks in the wake of the 2008 collapse of investment bank Lehman Brothers, ruling the fund waited too long to sue.
Shkreli's Relative Warned Witness Not To Testify, U.S. Says
2017-06-23T11:11:05-04:00https://www.thetrustedinsight.com/investment-news/shkrelis-relative-warned-witness-not-to-testify-us-says-20170623575/
A member of Martin Shkreli&rsquo;s family told a witness not to testify at the former pharmaceutical executive&rsquo;s fraud trial, a U.S. prosecutor told a judge. &ldquo;That contact has veered into the territory that has been less than appropriate,&rdquo; Alixandra Smith said at a hearing in Brooklyn federal court Thursday. Shkreli, the 34-year-old founder of Retrophin Inc. and Turing Pharmaceuticals AG, is accused of defrauding investors in two hedge funds and using $11 million of Retrophin assets to pay them off. He had been dubbed in the media as the &quot;most hated man in America&quot; for raising the price of a...
Barclays Executives Charged With Fraud
2017-06-21T14:01:05-04:00https://www.thetrustedinsight.com/investment-news/barclays-executives-charged-with-fraud-20170621512/
And offshore companies&#39; assets worth $1.5 trillion wash up in British Virgin Islands.
Ex-Barclays John Varley Steps Down From BlackRock Board
2017-06-21T13:56:04-04:00https://www.thetrustedinsight.com/investment-news/ex-barclays-john-varley-steps-down-from-blackrock-board-20170621510/
Former Barclays director, currently facing charges by the UK&#39;s Serious Fraud Office, resigns from BlackRock board of directors.
Ex-Visium Fund Manager Sentenced To 18 Months After Fraud Conviction
2017-06-15T14:03:34-04:00https://www.thetrustedinsight.com/investment-news/ex-visium-fund-manager-sentenced-to-18-months-after-fraud-conviction-20170615351/
A former portfolio manager at Visium Asset Management LP was sentenced to 18 months in prison on Wednesday following his conviction on securities fraud charges stemming from an investigation that led the New York-based hedge fund to close last year.
UK Pension Fraud, Error Declines Slightly
2017-06-06T11:43:04-04:00https://www.thetrustedinsight.com/investment-news/uk-pension-fraud-error-declines-slightly-20170606123/
The UK’s Department for Work & Pensions (DWP) has released its preliminary estimates for pension overpayments and underpayments for 2016/2017, reporting that overpayments increased slightly, while un...
Purported Hedge Fund Manager Pleads Guilty To Fraud Conspiracy Charges
2017-05-30T17:18:41-04:00https://www.thetrustedinsight.com/investment-news/purported-hedge-fund-manager-pleads-guilty-to-fraud-conspiracy-charges-20170530958/
Purported hedge fund manager Nicholas Mitsakos has pled guilty in Manhattan federal court to one count of conspiracy to commit securities and wire fraud, nearly a year after he was arrested in August 2016. Mitsakos, who founded San Francisco-based Matrix Capital Markets in 2013, was accused of fraudulently soliciting investments in Matrix by distributing marketing materials claiming millions of dollars in AUM and outsized returns.&nbsp; One investor, reportedly a Cayman Islands-based fund, is said to have relied on such claims to make a $2 million investment into Matrix in September 2015 only to discover the firm had no actual assets...
Former Real Estate CEO Admits Stealing $1.6M For Coke, Strippers
2017-05-24T12:38:24-04:00https://www.thetrustedinsight.com/investment-news/former-real-estate-ceo-admits-stealing-16m-for-coke-strippers-20170524822/
A Manhattan real-estate executive pleaded guilty to stealing $1.6 million from his company to pay for cocaine and strip-club binges. Rockie Gajwani, the former CEO of Trevi Retail, copped to one count of wire fraud and three counts of tax evasion in Manhattan federal court. Here&#39;s how.&nbsp;
Leesburg Hedge Fund Manager Pleads Guilty To Fraud
2017-05-17T11:31:04-04:00https://www.thetrustedinsight.com/investment-news/leesburg-hedge-fund-manager-pleads-guilty-to-fraud-20170517595/
Tamer Moumen, 39, pleaded guilty May 12&nbsp;to wire fraud in connection with his misuse of clients funds, some of which were invested through a purported hedge fund called Crescent Ridge Capital Partners.&nbsp; U.S. Attorney for the Eastern District of Virginia Dana Boente announced. According to the statement of facts filed with the plea agreement, Moumen, of Leesburg, defrauded over 50 clients between 2012 and 2017. Moumen falsely told&nbsp;his clients&nbsp;he was a successful trader who consistently beat the S&amp;P500 and was overseeing tens of millions of dollars through his company, Crescent Ridge Capital Partners. Moumen encouraged dozens of clients, many who...
Former Hedge Fund Manager Pleads Guilty To $9M Investment Fraud
2017-05-15T17:51:05-04:00https://www.thetrustedinsight.com/investment-news/former-hedge-fund-manager-pleads-guilty-to-9m-investment-fraud-20170515514/
A Leesburg man pleaded guilty today to wire fraud in connection with his misuse of clients funds, some of which were invested through a purported hedge fund called Crescent Ridge Capital Partners. According to the statement of facts filed with the plea agreement, Tamer Moumen, 39, defrauded over 50 clients between 2012 and 2017. Moumen falsely told investors that he was a successful trader who consistently beat the S&amp;P500 and was overseeing tens of millions of dollars through his company, Crescent Ridge Capital Partners. Moumen encouraged dozens of clients, including many who were nearing retirement age, to...
Eaton Vance Portfolio Manager Charged With Fraud
2017-05-05T14:31:04-04:00https://www.thetrustedinsight.com/investment-news/eaton-vance-portfolio-manager-charged-with-fraud-20170505234/
The SEC reports placing fraud charges against a Massachusetts-based portfolio manager accused of moving $1.95 million to his personal brokerage account from a fund that he was overseeing. That portfolio manager, Kevin J. Amell, has also pled guilty to one federal criminal count of securities fraud in the same matter, but he has not yet [&acirc;Ś]
Bain Capital Ventures Leads $56M Series C In E-Commerce Fraud Protection Startup
2017-05-05T09:39:38-04:00https://www.thetrustedinsight.com/investment-news/bain-capital-ventures-leads-56m-series-c-in-e-commerce-fraud-protection-startup-20170505203/
Signifyd, the worlds largest provider of Guaranteed Fraud Protection for e-commerce businesses, today announced it has secured $56 million in Series C financing led by Bain Capital Ventures, with additional participation from Menlo Ventures, American Express Ventures and other existing investors.&nbsp;
Hedge Funds Become Latest Target For Whistleblowers: $40M Settlement In Tax Case Demonstrates Broad Reach Of New York’s False Claims Act
2017-05-04T16:51:05-04:00https://www.thetrustedinsight.com/investment-news/hedge-funds-become-latest-target-for-whistleblowers-40m-settlement-in-tax-case-demonstrates-broad-reach-of-new-yorks-false-claims-act-20170504180/
Fittingly, on &ldquo;Tax Day&rdquo; 2017, the New York Attorney General announced a $40 million settlement based on taxes allegedly avoided by members of Harbinger Capital Partners Offshore Manager LLC (&ldquo;Harbinger&rdquo;), a hedge fund investment manager operating in New York City. While the settlement amount itself was record breaking, the underlying source of liability &ndash; New York&rsquo;s state false claims act, N.Y. State Finance Law &sect;&sect; 187 et seq. (&ldquo;NYFCA&rdquo;) &ndash; was highly unusual as well. Until now, most civil enforcement actions extracting massive settlements from financial industry companies for fraud allegations unrelated to the securities laws have been the exclusive...
Theranos Just Settled 2 Lawsuits With Hedge Fund
2017-05-02T16:41:04-04:00https://www.thetrustedinsight.com/investment-news/theranos-just-settled-2-lawsuits-with-hedge-fund-20170502078/
Theranos has settled its lawsuits with a&nbsp;hedge fund that invested $96.1 million in the company. Partner Fund Management originally sued Theranos in October 2016, alleging the company had &quot;engaged in securities fraud and other violations.&quot; And in April, court filings reported by The Wall Street Journal alleged that Theranos used a&nbsp;shell company to purchase commercially available lab equipment and faked blood tests in presentations with prospective investors and business partners.&nbsp;
10 Most Important Reads Of The Week - April 21, 2017
2017-04-21T11:07:25-04:00https://www.thetrustedinsight.com/investment-news/10-most-important-reads-of-the-week-april-21-2017-20170421783/
It has been an eventful week, and it&#39;s easy to fall behind. Here are the 10 most important reads of the week.
Strulowitz Hit With $90M Fraud Suit Over Alleged Brooklyn Ponzi Scheme
2017-04-20T17:46:04-04:00https://www.thetrustedinsight.com/investment-news/strulowitz-hit-with-90m-fraud-suit-over-alleged-brooklyn-ponzi-scheme-20170420780/
A group of investors who put up $20 million in a Brooklyn real estate deal are accusing landlord Cheskel Strulowitz of a Ponzi scheme that cost them $90 million in damages. The investors &mdash; including Jacob and Benjamin Schonberg, Binyomin Halpern and Raphael Elkaim, all of Israel &mdash; claim that their Brooklyn partners, led by Strulowitz, used the $20 million to acquire about 20 properties throughout the borough, and then borrowed against those assets many [&hellip;]
Fraud In Silicon Valley: Startups Show Their Unethical Underside
2017-04-16T18:39:34-04:00https://www.thetrustedinsight.com/investment-news/fraud-in-silicon-valley-startups-show-their-unethical-underside-20170416610/
Venture capitalist, Vinod Khosla, went to the TechCrunch Disrupt to talk&nbsp;about disruption and revolutions to an audience of 1,000 potential disrupters and revolutionaries, laptop glow illuminating their faces in a San Francisco warehouse.
Middletown Ex-hedge Fund Chairman Admits Fraud
2017-04-11T17:16:04-04:00https://www.thetrustedinsight.com/investment-news/middletown-ex-hedge-fund-chairman-admits-fraud-20170411460/
Peter Zuck, 66, was a co-founder of the now-defunct Osiris Partners LLC. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
China Merchants, Forebright Capital, SIG Lead $80M Series C In Fintech Company
2017-04-06T11:00:04-04:00https://www.thetrustedinsight.com/investment-news/china-merchants-forebright-capital-sig-lead-80m-series-c-in-fintech-company-20170406267/
<p>Wecash, the first internet credit assessment platform in China, has secured $80 million in a series C round led by&nbsp;China Merchants Venture Capital Management,&nbsp;Forebright Capital&nbsp;and&nbsp;SIG. Wecash, established in 2013, is the first Chinese company using big data technologies to evaluate people&rsquo;s credit and detect fraud and provide a credit assessment through app in less than 15 minutes.</p>
EdgeStone Capital Partners Sells EZShield To Wicks Group
2017-04-05T17:59:10-04:00https://www.thetrustedinsight.com/investment-news/edgestone-capital-partners-sells-ezshield-to-wicks-group-20170405236/
EZShield Inc, an&nbsp;identity theft and fraud protection services&nbsp;company, has been acquired by the&nbsp;Wicks Group of Companies, a U.S. private equity firm. The terms of the March deal were not released.&nbsp;EZShield, based in Baltimore, Maryland, was sold by Canadian private equity firm&nbsp;Edgestone Capital Partners. Edgestone acquired the business in 2007 when it was a division of&nbsp;Custom Direct Inc. It was spun out with Custom Direct&rsquo;s sale in 2010.&nbsp;EZShield is Edgestone&rsquo;s second recent exit. Earlier this week,&nbsp;Canadian life reinsurance company&nbsp;Aurigen Capital Ltd, backed by Edgestone since 2007,&nbsp;was&nbsp;sold to&nbsp;PartnerRe Ltd.
Platinum Fraud Charges Shine Light On Cayman Director Responsibilities
2017-03-31T11:54:58-04:00https://www.thetrustedinsight.com/investment-news/platinum-fraud-charges-shine-light-on-cayman-director-responsibilities-20170331056/
NEW YORK (Thomson Reuters Regulatory Intelligence) - Investment-fund boards of directors have a critical responsibility to be an "independent watchdog" on behalf of investors. For most U.S. retail in...
Platinum Founder’s Lawyer Says FBI May Have Leaked About Fraud Probe
2017-03-29T18:03:03-04:00https://www.thetrustedinsight.com/investment-news/platinum-founders-lawyer-says-fbi-may-have-leaked-about-fraud-probe-1-20170329985/
A lawyer defending Platinum Partners founder Mark Nordlicht against fraud charges said on Monday an FBI agent who admitted to leaking to the press on an insider trading probe of sports gambler William &ldquo;Billy&rdquo; Walters may also have leaked about Platinum. At a hearing in Brooklyn federal court before U.S. District Judge Dora Irizarry, lawyer [&hellip;]The postPlatinum Founder&rsquo;s Lawyer Says FBI May Have Leaked About Fraud Probeappeared first onTOTPI.
Platinum Founder's Lawyer Says FBI May Have Leaked About Fraud Probe
2017-03-29T10:00:35-04:00https://www.thetrustedinsight.com/investment-news/platinum-founders-lawyer-says-fbi-may-have-leaked-about-fraud-probe-20170329962/
A lawyer defending Platinum Partners founder Mark Nordlicht against fraud charges said on Monday an FBI agent who admitted to leaking to the press on an insider trading probe of sports gambler William &quot;Billy&quot; Walters may also have leaked about Platinum.
Indian Sebi Bans Amadhi Investments For 10 Years In IPO Case
2017-03-27T17:37:29-04:00https://www.thetrustedinsight.com/investment-news/indian-sebi-bans-amadhi-investments-for-10-years-in-ipo-case-20170327858/
Sebi has barred Amadhi Investments for 10 years from the capital markets and directed it to disgorge about Rs 78 lakh for indulging in fraudulent and manipulative activities in the IPOs of three companies. The Securities and Exchange Board of India (Sebi) found that Amadhi Investments financed Sugandh Estates and Investments in the IPOs of IDFC, Sasken and FCS Software Solutions with the purpose of cornering shares reserved for retail investors.
Embattled Bellevue Hedge Fund Adviser Accused Of Fraud
2017-03-16T16:48:06-04:00https://www.thetrustedinsight.com/investment-news/embattled-bellevue-hedge-fund-adviser-accused-of-fraud-20170316555/
Federal prosecutors have charged the former head of a Bellevue wealth management firm accused of running a Ponzi scheme with wire fraud and making false statements to the United States. Seattlepi.com reports charges against Summit Asset Strategies CEO Chris Young Yoo were unsealed Monday. Yoo&rsquo;s attorney Michelle Peterson says her client will be pleading guilty as part of a plea deal. The charges are related to claims that he misled his firm&rsquo;s clients while using new investments to [&hellip;]
SEC: Purported Real Estate Investment Manager Settles Fraud Charges
2017-02-15T16:26:25-05:00https://www.thetrustedinsight.com/investment-news/sec-purported-real-estate-investment-manager-settles-fraud-charges-20170215503/
The Securities and Exchange Commission today announced that a purported real estate investment manager has agreed to pay more than a half-million dollars to settle charges that he pocketed investor money in an investment scheme. The SEC alleges that James P. Toner Jr. of Scottsdale, Ariz., siphoned $51,000 from investors who were falsely told that he would personally manage some of the real estate projects in which they were purchasing interests.&nbsp; The stated purpose of each investor offering was to purchase a residential property in the Phoenix area, renovate that property, and then...
Steve Cohen Backs Macro Fund Of Ex-Brevan Partner Melkman
2017-02-10T11:23:28-05:00https://www.thetrustedinsight.com/investment-news/steve-cohen-backs-macro-fund-of-ex-brevan-partner-melkman-20170210356/
Ben Melkman, a former partner at Brevan Howard Asset Management, is receiving capital from billionaire Steven A. Cohen for the hedge fund he plans to start next month with more than $400 million under management, according to people with knowledge of the matter. Cohen,&nbsp;whose former hedge fund SAC Capital Advisors racked up annual returns averaging 30 percent before before the firm pleaded guilty to securities fraud in 2013, is providing an anchor investment to Light Sky Macro, said the people, who asked not to be identified because the matter is private. The fund will begin trading March 1, the people...
10 Most Important Reads Of The Week - Feb 10, 2017
2017-02-10T10:06:12-05:00https://www.thetrustedinsight.com/investment-news/10-most-important-reads-of-the-week-feb-10-2017-20170210350/
It has been an eventful week, and it&#39;s easy to fall behind. Here are the 10 most important reads of the week.
The ‘Hamilton’ Ponzi Scheme That Fooled Michael Dell, Other Billionaires
2017-02-07T11:03:53-05:00https://www.thetrustedinsight.com/investment-news/the-hamilton-ponzi-scheme-that-fooled-michael-dell-other-billionaires-20170207221/
When U.S. authorities busted a Ponzi scheme that centered on marked-up tickets to the hit Broadway musical “Hamilton” last month, prosecutors described phone calls about a “big name” investor who’d demanded his money back.
How One ‘Hamilton’ Ticket Scam Fooled Michael Dell And Other High-Profile Billionaires
2017-02-07T10:06:53-05:00https://www.thetrustedinsight.com/investment-news/how-one-hamilton-ticket-scam-fooled-michael-dell-and-other-high-profile-billionaires-20170207211/
Michael Dell, Paul Tudor Jones and more than 125 others poured money into a Ponzi scheme involving marked-up tickets to the Broadway smash &ldquo;Hamilton&rdquo; last month, according to sources cited by&nbsp;a Bloomberg report on Monday.
Hedge Fund Manager Sentenced For Bilking Vets Out Of $1.8M
2017-01-31T16:44:43-05:00https://www.thetrustedinsight.com/investment-news/hedge-fund-manager-sentenced-for-bilking-vets-out-of-18m-20170131025/
A Chicago hedge fund manager was sentenced to more than four years in prison after pleading guilty to a $1.8 million fraud scheme that targeted military veterans. Clayton Cohn, aged 30, himself a former U.S. Marine, received a 52-month sentence in U.S.
SEC Charges Two Former Och-Ziff Execs In African Bribery Case
2017-01-27T15:53:43-05:00https://www.thetrustedinsight.com/investment-news/sec-charges-two-former-och-ziff-execs-in-african-bribery-case-20170127913/
<p>In a lawsuit filed in federal court in Brooklyn, the U.S. Securities and Exchange Commission accused Michael Cohen, who headed Och-Ziff&#39;s European office, and Vanja Baros, a former analyst, of violating the Foreign Corrupt Practices Act.</p>
<p>The lawsuit came after Och-Ziff agreed in September to pay $412 million to resolve U.S. investigations relating to the hedge fund&#39;s role in bribing officials in several African countries.</p>
Hedge Fund Execs Charged In Multi-Million Dollar Bribery Scheme
2017-01-27T15:51:00-05:00https://www.thetrustedinsight.com/investment-news/hedge-fund-execs-charged-in-multi-million-dollar-bribery-scheme-20170127909/
<p class="column small-12 medium-10 medium-offset-1 large-offset-2 _10M0Ygc4" data-reactid="217">U.S. securities regulators on Thursday accused two former executives at hedge fund Och-Ziff Capital Management of masterminding a far-reaching scheme to pay tens of millions of dollars in bribes to African officials.</p>
<p data-reactid="219">In a lawsuit filed in federal court in Brooklyn, the U.S. Securities and Exchange Commission accused Michael Cohen, who headed Och-Ziff&#39;s European office, and Vanja Baros, a former analyst, of violating the Foreign Corrupt Practices Act.</p>
10 Most Important Reads Of The Week - Jan. 27, 2016 - Draft
2017-01-27T11:09:04-05:00https://www.thetrustedinsight.com/investment-news/10-most-important-reads-of-the-week-jan-27-2016-20170127879/
It has been an eventful week, and it&#39;s easy to fall behind. Here are the 10 most important reads of the week.
Ex-MSD Capital Analyst Arrested After Skipping Insider Trading Trial
2017-01-24T11:16:43-05:00https://www.thetrustedinsight.com/investment-news/ex-msd-capital-analyst-arrested-after-skipping-insider-trading-trial-20170124748/
<p>A former analyst at the investment fund of Dell Inc founder Michael Dell was arrested on Monday after he refused to show up for trial to face charges that he made $1.5 million engaging in insider trading.</p>
<p>U.S. District Judge Paul Engelmayer in Manhattan earlier in the day issued a bench warrant for John Afriyie, a former employee of MSD Capital, after a defense lawyer said his client was in New Jersey and would not agree to come to court.</p>
Mnuchin Questioned On Offshore Funds At Senate Confirmation Hearing
2017-01-20T14:24:09-05:00https://www.thetrustedinsight.com/investment-news/mnuchin-questioned-on-offshore-funds-at-senate-confirmation-hearing-20170120644/
Steven Mnuchin, the banking and hedge fund executive, and film financier who is President-elect Donald Trump&#39;s nominee to be the next secretary of the treasury, was grilled by lawmakers over his investments, including his use of a Cayman Islands address as a tax shelter for his hedge fund.
Ex-Visium Manager Found Guilty Of Fraud In About 90 Minutes
2017-01-20T11:45:27-05:00https://www.thetrustedinsight.com/investment-news/ex-visium-manager-found-guilty-of-fraud-in-about-90-minutes-20170120635/
A onetime portfolio manager for hedge fund firm Visium Asset Management LP was convicted of federal securities-fraud charges in the culmination of a three-year case that included the suicide of a fellow executive who was also charged.
The jury deliberated for a little more than 90 minutes before finding Stefan Lumiere guilty on all three counts related to inflating the price of bonds in the firm’s credit fund to hide losses from investors. His conviction comes as the U.S. steps up efforts to police multitrillion-dollar bond markets, where securities are traded between parties and not over an exchange.
Boston-area Hedge Fund Accused Of Fraud Misuse Of Money
2017-01-19T15:20:11-05:00https://www.thetrustedinsight.com/investment-news/boston-area-hedge-fund-accused-of-fraud-misuse-of-money-20170119590/
A small Boston-area hedge fund operation on is accused of running a Ponzi scheme that included spending investor money on liquor, luxury hotels and specialty cars.
Pershing Square Reaches Settlement With The SEC
2017-01-18T12:52:09-05:00https://www.thetrustedinsight.com/investment-news/pershing-square-reaches-settlement-with-the-sec-20170118517/
Pershing Square Capital Management, L.P. (&ldquo;Pershing Square&rdquo;) today announced a settlement with the U.S. Securities and Exchange Commission (&ldquo;Commission&rdquo;) regarding a previously reported campaign contribution by a former employee made in violation of the Commission&#39;s rules governing political contributions by investment adviser employees and Pershing Square&rsquo;s own compliance policies. Pershing Square has determined that agreeing to this settlement is in the best interest of the firm. Without admitting or denying liability, Pershing Square has agreed to pay $75,000 to resolve this matter.
Cohen's Fund Returned a Measly 1% Last Year
2017-01-17T17:10:39-05:00https://www.thetrustedinsight.com/investment-news/cohens-fund-returned-a-measly-1-last-year-20170117474/
Steve Cohen’s Point72 Asset Management returned about 1 percent in 2016, the second-worst annual performance ever for the billionaire investor, according to people familiar with the returns.
The family office, which runs Cohen’s personal fortune and invests across equity teams, suffered along with other multi-manager firms, which struggled to make money in stocks. The high correlation among equities for most of last year, caused in part by the billions of dollars that flowed into index and exchange-traded funds, hurt managers making significant wagers on falling shares.
10 Most Important Reads Of The Week - Jan. 6, 2016
2017-01-06T10:52:31-05:00https://www.thetrustedinsight.com/investment-news/10-most-important-reads-of-the-week-jan-6-2016-20170106170/
It has been an eventful week, and it&#39;s easy to fall behind. Here are the 10 most important reads of the week.
Olaf Carlson-Wee's Polychain Raises Money From Union Square Ventures
2016-12-28T11:31:10-05:00https://www.thetrustedinsight.com/investment-news/olaf-carlson-wees-polychain-raises-money-from-union-square-ventures-20161228926/
A 27-year-old has raised $10 million for an unusual hedge fund —
with the support of venture capitalists like Andreessen Horowitz
and Union Square Ventures....
Bill Ackman to Platinum Partners: Hedge Funds' 7 Top Disasters of 2016
2016-12-28T11:26:35-05:00https://www.thetrustedinsight.com/investment-news/bill-ackman-to-platinum-partners-hedge-funds-7-top-disasters-of-2016-20161228921/
As far as financial returns go, 2016 was actually pretty good for hedge funds—at least compared to the last couple of years. But several of the industry's bigwigs still took it on the chin this year....
Pension Exec Moved $2B For Coke, Hookers, Bribes
2016-12-22T10:59:02-05:00https://www.thetrustedinsight.com/investment-news/pension-exec-moved-2b-for-coke-hookers-bribes-20161222824/
<p>A former top official at the country&rsquo;s third-largest pension fund and two broker-dealers were charged Wednesday in what a federal prosecutor described as a classic bribery scheme that steered $2 billion in trades in exchange for drugs, prostitutes, vacations and U.S. Open tennis tickets.</p>
<p>&ldquo;The hard-earned pension savings of New Yorkers should never serve as a vehicle for corrupt personal enrichment,&rdquo; Manhattan U.S. Attorney Preet Bharara said in a statement, calling the alleged pay-for-play arrangement a &ldquo;classic, quid-pro-quo bribery scheme.&rdquo;</p>
U.S. Charges Platinum Partners Executives With $1B Fraud
2016-12-21T09:43:35-05:00https://www.thetrustedinsight.com/investment-news/us-charges-platinum-partners-executives-with-1b-fraud-20161221741/
Today, executives of a hedge fund were charged with running a $1 billion fraud, making it one of the largest alleged scams since Bernie Madoff&rsquo;s Ponzi scheme.
Platinum Hedge Fund Executives Charged With $1B Fraud
2016-12-20T06:30:00-05:00https://www.thetrustedinsight.com/investment-news/platinum-hedge-fund-executives-charged-with-1b-fraud-20161220682/
NEW YORK &ndash; Platinum Partners hedge fund founder Mark Nordlicht and four others with ties to the New York City-based hedge fund were charged Monday in a $1 billion securities fraud indictment, one of the largest alleged scams since Bernard Madoff&rsquo;s notorious Ponzi scheme. Brooklyn federal prosecutors who announced the eight count indictment said two [&hellip;]The postPlatinum Hedge Fund Executives Charged With $1 Billion Fraudappeared first onTOTPI.
Feds: NY Hedge Founder Indicted In $1B Fraud Case
2016-12-20T06:28:59-05:00https://www.thetrustedinsight.com/investment-news/feds-ny-hedge-founder-indicted-in-1b-fraud-case-20161220681/
Defendants accused of lying to investors about value of funds
Hedge Fund Managers Busted In $1B Fraud Scheme
2016-12-19T15:09:52-05:00https://www.thetrustedinsight.com/investment-news/hedge-fund-managers-busted-in-1b-fraud-scheme-20161219663/
A hedge-fund honcho with ties to disgraced city correction-union boss Norman Seabrook tried to flee to Israel with his family after perpetuating a $1 billion fraud, according to a federal indictment unsealed Monday.
Lynn Tilton, Patriarch Partners Subject To Ongoing DOD, DOJ investigations
2016-12-16T10:30:42-05:00https://www.thetrustedinsight.com/investment-news/lynn-tilton-patriarch-partners-subject-to-ongoing-dod-doj-investigations-20161216556/
Lynn Tilton and her private equity fund Patriarch Partners have been subject to multi-year investigations conducted by the Department of Justice and Department of Defense, according to a source familiar with the matter along with&nbsp;declarations filed by SEC lawyers in the commission&rsquo;s administrative proceeding against Tilton over fraud allegations.
Fox, Private Equity Giant Schemed To Strip 'American Idol' Producer, Lawsuit Claims
2016-12-13T14:54:07-05:00https://www.thetrustedinsight.com/investment-news/fox-private-equity-giant-schemed-to-strip-american-idol-producer-lawsuit-claims-20161213442/
Having allegedly made a bad $510 million bet on the competition singing show, Apollo Global Management allegedly orchestrated a complex transaction that left Core Media&#39;s lenders holding the bag.
HKMA Concerned Following Arrests Of DBS Staff On Suspicion Of Selling Customers’ Data
2016-12-09T14:54:31-05:00https://www.thetrustedinsight.com/investment-news/hkma-concerned-following-arrests-of-dbs-staff-on-suspicion-of-selling-customers-data-20161209295/
<p>Hong Kong&rsquo;s financial regulator said it will &ldquo;follow up&rdquo; with the bank after reports that 20 employees were arrested by ICAC.</p>
<p>The Hong Kong Monetary Authority has declared itself to be concerned following media reports that 20 DBS bank staff were arrested on Thursday for allegedly selling customers&rsquo; personal data.</p>
100 Most Exciting Startups In New York City
2016-12-08T10:38:24-05:00https://www.thetrustedinsight.com/investment-news/100-most-exciting-startups-in-new-york-city-20161208215/
A panel of 40 judges, including Business Insider's Henry Blodget and Karl-Theodor zu Guttenberg, chairman of Spitzer Partners, chose the finalists.
US Moves To Seize Malaysian Family's $650M Investments, Including Real Estate
2016-12-07T14:38:31-05:00https://www.thetrustedinsight.com/investment-news/us-moves-to-seize-malaysian-familys-650m-investments-including-real-estate-20161207190/
Malaysian financier&nbsp;Low Taek Jho&rsquo;s family is broadening its bid to prevent the US from seizing US$650 million (S$924 million) in real estate and business investments the government claims was acquired with funds stolen from his home country.
China Top Securities Regulator Lashes Out At ‘Barbarous’ Buyouts Using Illegal Funds
2016-12-05T11:52:14-05:00https://www.thetrustedinsight.com/investment-news/china-top-securities-regulator-lashes-out-at-barbarous-buyouts-using-illegal-funds-20161205010/
<p>CSRC chairman Liu Shiyu warns some asset managers not to be &lsquo;prodigal vulgar rich&rsquo;, &lsquo;evil monsters&rsquo; and &lsquo;poisonous pests&rsquo; of the industry.</p>
<p>The chairman of China&rsquo;s securities regulator strongly rebuked some asset managers for their &ldquo;barbaric&rdquo; leveraged company buyouts by using illegal funds, according to a statement posted on the China Securities Regulatory Commission (CSRC) website on Saturday.</p>
Financier's Ponzi Scheme Appeal Rejected By Supreme Court
2016-11-28T17:32:27-05:00https://www.thetrustedinsight.com/investment-news/financiers-ponzi-scheme-appeal-rejected-by-supreme-court-20161128783/
On Monday the Supreme Court rejected a bid by Robert Allen Stanford to overturn his conviction and 110-year sentence for running a Ponzi scheme that conned investors in 113 countries out of approximately $7.2 billion. Federal prosecutors said that for more than two decades the Texas financier ran a scam based on the sale of fraudulent high-yielding certificates of deposit.&nbsp;
LA Private Equity Exec David Bergstein Charged In Investment Scheme
2016-11-10T12:07:44-05:00https://www.thetrustedinsight.com/investment-news/la-private-equity-exec-david-bergstein-charged-in-investment-scheme-20161110094/
U.S. authorities have arrested private equity executive and film producer David Bergstein on charges of defrauding investors of more than $26 million. read more
BC Partners, Medina Capital Announce Definitive Agreement To Acquire Easy Solutions
2016-11-04T13:18:44-04:00https://www.thetrustedinsight.com/investment-news/bc-partners-medina-capital-announce-definitive-agreement-to-acquire-easy-solutions-20161104809/
Leading private equity firms BC Partners and Medina Capital today announced an agreement to acquire&nbsp;<a href="http://cts.businesswire.com/ct/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.easysol.net%2F&amp;esheet=51454144&amp;newsitemid=20161104005396&amp;lan=en-US&amp;anchor=Easy+Solutions&amp;index=1&amp;md5=ac94f07377c62e09ccaac7336f58cf38" rel="nofollow" target="_blank">Easy Solutions</a>, the Total Fraud Protection&reg; company. The announcement comes as part of a new joint venture, combining a global portfolio of 57 data centers and associated colocation business to be acquired from CenturyLink, along with the acquisition of Medina Capital&rsquo;s security, compliance and data analytics portfolio.
Former Valeant CEO, CFO Focus Of U.S. Criminal Probe; Shares Fall Anew
2016-11-01T15:00:18-04:00https://www.thetrustedinsight.com/investment-news/former-valeant-ceo-cfo-focus-of-us-criminal-probe-shares-fall-anew-20161101633/
The former CEO and CFO of Embattled Canadian pharmaceutical company Valeant, a core holding of Bill Ackman&#39;s hedge fund Pershing Square Capital Management, are reportedly the focus of U.S. prosecutors as they explore whether to bring a fraud case against the drugmaker.
Hedge Fund Pine River Manager O'Connell Leaves For Paloma Partners
2016-10-31T16:40:06-04:00https://www.thetrustedinsight.com/investment-news/hedge-fund-pine-river-manager-oconnell-leaves-for-paloma-partners-20161031552/
Michael O'Connell, who ran Pine River's capital structure arbitrage strategy, which seeks to profit off different valuations between a company's debt and equity, took with him a team that included Jo...
Martin Shkreli Does Not Apologize
2016-10-28T14:54:12-04:00https://www.thetrustedinsight.com/investment-news/martin-shkreli-does-not-apologize-20161028448/
Dubbed “Pharma Bro” by the press, Shkreli is best known for hiking the price of Daraprim, a 63-year-old treatment for malaria and toxoplasmosis often used by HIV/AIDS patients, from $13.50 to $750 pe...
Ex-Oppenheimer & Co. Worker Pleads Guilty To Insider Trading
2016-10-26T15:06:33-04:00https://www.thetrustedinsight.com/investment-news/ex-oppenheimer-co-worker-pleads-guilty-to-insider-trading-20161026323/
A former Oppenheimer &amp; Co. Inc. financial adviser has pleaded guilty to insider trading charges in New York City.
Patriarch's Founder Counters Fraud Accusations As In-House SEC Trial Begins
2016-10-26T14:15:11-04:00https://www.thetrustedinsight.com/investment-news/patriarchs-founder-counters-fraud-accusations-as-in-house-sec-trial-begins-20161026309/
After the U.S. Supreme Court denied her request to put her long-awaited SEC administrative trial on hold, private equity maven Lynne Tilton and her company, Patriarch Partners, finally faced off against the SEC in a hearing yesterday. &nbsp;
Ohio Pension Funds Lost Out On $1.6B Extra
2016-10-25T11:44:28-04:00https://www.thetrustedinsight.com/investment-news/ohio-pension-funds-lost-out-on-16b-extra-20161025155/
COLUMBUS — Three Ohio public pension funds earned $1.6 billion less than they might have if they’d stayed out of hedge fund investments while still paying $1.1 billion in fees for the privilege, acco...
Fraud Detection Firm Ravelin Secures £3m In New Funding To Support Rapidly Expanding Client Base
2016-10-19T14:39:02-04:00https://www.thetrustedinsight.com/investment-news/fraud-detection-firm-ravelin-secures-3m-in-new-funding-to-support-rapidly-expanding-client-base-20161019900/
Existing investors led by Playfair Capital with participation from Amadeus Capital, Passion Capital, Errol Damelin (founder of Wonga) and Paul Foster (founder of Indeed.com) have all either maintained or expanded their respective stakes in the business.
Citi Ventures Invests In Feedzai
2016-10-19T14:03:39-04:00https://www.thetrustedinsight.com/investment-news/citi-ventures-invests-in-feedzai-20161019883/
The California-based company applies machine learning technology to large data sets to detect anomolies and highlight potential cases of fraud associated with banking and shopping. It claims its software can detect fraud as much as 10 days earlier than other solutions and exposes up to 60% more fraud cases with lower false alarms.
Snooping In The Bathroom To Assess Credit Risk In China
2016-10-13T12:14:02-04:00https://www.thetrustedinsight.com/investment-news/snooping-in-the-bathroom-to-assess-credit-risk-in-china-20161013543/
China wants to nurture a credit culture to get Chinese families spending instead of saving. Judging creditworthiness is sometimes done at a very grass-roots level.
Theranos Test: Hedge Fund Partner Fund Management Accuses Blood Testing Company Of Lying To Investors
2016-10-11T19:40:11-04:00https://www.thetrustedinsight.com/investment-news/theranos-test-hedge-fund-partner-fund-management-accuses-blood-testing-company-of-lying-to-investors-20161011456/
A San Francisco hedge fund Monday accused Theranos Inc. and founder Elizabeth Holmes of lying to attract $100 million in investment in a lawsuit filed in Delaware. Partner Fund Management LP sent a letter to investors, accusing Theranos of &ldquo;a series of lies, material misstatements, and omissions,&rdquo; the Wall Street Journal reported. The letter said the company &ldquo;engaged in securities fraud and other violations by fraudulently inducing PFM to invest and maintain its investment in the company.&rdquo;
Investor Sues Theranos, The Embattled Blood Testing Startup
2016-10-11T10:38:09-04:00https://www.thetrustedinsight.com/investment-news/investor-sues-theranos-the-embattled-blood-testing-startup-20161011381/
San Francisco hedge fund Partner Fund Management has sued the company for securities fraud, saying that it used &ldquo;a series of lies&rdquo; to gain nearly $100 million in investment, according to the&nbsp;Wall Street Journal.
Prosecutions From The Financial Crisis: When Is It Safe To Come Out Of The Woods?
2016-09-29T11:24:26-04:00https://www.thetrustedinsight.com/investment-news/prosecutions-from-the-financial-crisis-when-is-it-safe-to-come-out-of-the-woods-20160929904/
A number of&nbsp;news articles&nbsp;proclaim the end of financial crisis-related prosecutions, which raises the question, is it really over?&nbsp; The answer is, probably not, but maybe soon.
Fallen VC Ifty Ahmed, Under Investigation By The SEC, Claims Former Employer Owes Him Millions
2016-09-27T14:36:32-04:00https://www.thetrustedinsight.com/investment-news/fallen-vc-ifty-ahmed-under-investigation-by-the-sec-claims-former-employer-owes-him-millions-20160927803/
In May of last year, Ifty Ahmed was accused by federal regulators of conning his former employer &mdash; the venture capital firm, Oak Investment Partners &mdash; out of $65 million. Now, Ahmed suggests, Oak is doing the conning, and he says the stakes are even higher.
SEC Charges Omega’s Leon Cooperman With Insider Trading
2016-09-22T14:17:00-04:00https://www.thetrustedinsight.com/investment-news/sec-charges-omegas-leon-cooperman-with-insider-trading-20160922589/
Famed investor Leon Cooperman was accused of insider trading by U.S. regulators in the government&rsquo;s highest-profile case against a hedge fund manager since its crackdown on SAC Capital Advisors. Marking the culmination of an investigation that dates back to at least 2011, the Securities and Exchange Commission said Cooperman, 73, used his status as one [&hellip;]
Former CEO of Essex Holdings Charged With $30M Investor Fraud
2016-09-19T11:50:09-04:00https://www.thetrustedinsight.com/investment-news/former-ceo-of-essex-holdings-charged-with-30m-investor-fraud-20160919343/
Navin Shankar&nbsp;Subramaniam Xavier duped&nbsp;around 100 investors.
Asenqua Ventures: The Venture Capital Firm That Wasn't There
2016-09-16T12:05:08-04:00https://www.thetrustedinsight.com/investment-news/asenqua-ventures-the-venture-capital-firm-that-wasnt-there-20160916279/
In 2012, hedge fund manager and venture capitalist Albert Hu was convicted of a financial fraud that stretched from Silicon Valley to Hong Kong. Today, he is locked up in the minimum security wing of Lompoc federal prison&mdash;inmate #131600-111&mdash;without access to the Internet.&nbsp;
Signifyd Raises $19M To Help With Online Fraud Protection
2016-09-08T15:08:04-04:00https://www.thetrustedinsight.com/investment-news/signifyd-raises-19m-to-help-with-online-fraud-protection-20160908846/
The San Jose-based company is raising $19 million in financing for its fraud protection services. Investors include Menlo Ventures, TriplePoint Capital and American Express Ventures.
Hedge Fund Heroes May Lose at BEA
2016-08-23T16:02:57-04:00https://www.thetrustedinsight.com/investment-news/hedge-fund-heroes-may-lose-at-bea-20160823123/
Bank of East Asia investors are treading on thin ice. The last big independent Hong Kong bank refuses to be sold, even as its operating performance is slowly crushed. Shareholders face whiplash if Elliott Management, the activist firm urging the founding Li family to cede control, aborts its mission.
Rothenberg Ventures Could Be In Financial Ruin, Under SEC Investigation: Media Reports
2016-08-19T10:18:20-04:00https://www.thetrustedinsight.com/investment-news/rothenberg-ventures-could-be-in-financial-ruin-under-sec-investigation-media-reports-20160819932/
One person&nbsp;told TechCrunch that the SEC is looking at the firm after an employee alerted the agency to possible wire fraud and&nbsp;breach of fiduciary duty.
Hedge Fund Manager Used Terminally Ill Patients For Profit: SEC
2016-08-16T15:43:30-04:00https://www.thetrustedinsight.com/investment-news/hedge-fund-manager-used-terminally-ill-patients-for-profit-sec-20160816774/
A hedge-fund manager paid terminally ill patients to use their names in a bond-buying scheme that generated $9.5 million in profits, a U.S. securities regulator said on Monday. Donald &quot;Jay&quot; Lathen, Jr., who manages Eden Arc Capital Management LLC, was charged with fraud after putting the patients&#39; names on joint brokerage accounts, along with his own, so he could buy bonds for his fund and profit by selling them back to issuers when the patients died, according to a U.S. Securities and Exchange Commission complaint. Lathen opened 60 such accounts since May 2011, but none listed his fund as the...
US Hedge Fund Manager Charged With Fraud
2016-08-15T18:00:15-04:00https://www.thetrustedinsight.com/investment-news/us-hedge-fund-manager-charged-with-fraud-20160815686/
US Federal prosecutors have charged San Francisco hedge fund manager Nicholas Mitsakos with fraud, alleging that he schemed to raise money for his fund by falsely representing past performance and overstating the value of assets under management. Preet Bharara, the US Attorney for the Southern District of New York, announced charges of securities and wire fraud against Mitsakos alleging that from at least May 2014 through August 2016, he fraudulently solicited investments in a hedge fund that he had founded, Matrix Capital, by distributing marketing materials claiming that Matrix had millions of dollars under management and had achieved outsized returns...
We Now Know Who Blew The Whistle On Visium Asset Management
2016-08-15T17:31:59-04:00https://www.thetrustedinsight.com/investment-news/we-now-know-who-blew-the-whistle-on-visium-asset-management-20160815677/
The whistleblower behind the investigation into Visium Asset Management, the onetime $8 billion hedge fund that is shuttering amid fraud charges, has been revealed. A former trader at the firm, Jason Thorell, approached the government, according to a Bloomberg News report out Monday morning.
NJ Real Estate Fraud Can't Withdraw Guilty Plea
2016-08-15T10:30:12-04:00https://www.thetrustedinsight.com/investment-news/nj-real-estate-fraud-cant-withdraw-guilty-plea-20160815613/
A New Jersey man serving a lengthy prison term for running a $200 million Ponzi-style real estate scheme has lost his bid to withdraw his guilty plea and have charges he admitted to in another case dismissed.&nbsp;
U.S. Attorney, SEC File Charges Against San Francisco Hedge Fund Manager
2016-08-12T13:19:40-04:00https://www.thetrustedinsight.com/investment-news/us-attorney-sec-file-charges-against-san-francisco-hedge-fund-manager-20160812582/
U.S. authorities have accused a San Francisco hedge fund manager with fraud for allegedly misrepresenting the amount of money the firm had under management and misappropriating investor capital.read more
Patriarch Founder In Court For $2.5B Distressed Debt Fund 'Shell Game'
2016-08-11T15:08:25-04:00https://www.thetrustedinsight.com/investment-news/patriarch-founder-in-court-for-25b-distressed-debt-fund-shell-game-20160811476/
An embattled investor, nicknamed the &quot;Diva of Distressed&quot;, was in a Delaware court on Wednesday to testify against allegations that she had not disclosed the complex holdings of $2.5 billion distressed debt funds that she lost control of this year.
Corrupt Brazilian Businessman Invested $21M In UK Real Estate
2016-07-28T13:33:25-04:00https://www.thetrustedinsight.com/investment-news/corrupt-brazilian-businessman-invested-21m-in-uk-real-estate-20160728692/
Guardian investigation finds Expedito Machado &ndash; who has admitted laundering bribes for his father, a former senator &ndash; spent &pound;21m on British real estate...&nbsp;<span style="line-height: 20.8px;">The case potentially ties London property to one of the world&rsquo;s biggest fraud investigations, called Operation Carwash.</span>
Malaysia PE Firm Sued Goldman Sachs For $510M For Fraud
2016-07-27T11:58:03-04:00https://www.thetrustedinsight.com/investment-news/malaysia-pe-firm-sued-goldman-sachs-for-510m-for-fraud-20160727610/
Goldman Sachs has been sued by a shareholder of one of its former clients over alleged fraudulent misrepresentations that involve links to the prime minister of Malaysia.&nbsp;
Wolf Popper LLP Announces Investigation Of Fraud Claims On Behalf Of Investors In Platinum
2016-07-27T11:35:06-04:00https://www.thetrustedinsight.com/investment-news/wolf-popper-llp-announces-investigation-of-fraud-claims-on-behalf-of-investors-in-platinum-20160727597/
NEW YORK, July 26, 2016 /PRNewswire/ --&nbsp;Wolf Popper LLP is investigating potential fraud claims on behalf of investors in Platinum Partners, L.P.&#39;s investment funds, resulting from an ongoing federal investigation into whether the hedge fund, Platinum Partners has misstated values of some of its holdings, including its flagship fund, Value Arbitrage Fund. &nbsp;Platinum investors can contact Fei-Lu Qian at 877.370.7703 or fqian@wolfpopper.com for more information. On June 8, 2016, it was reported by various news outlets that a day earlier, Platinum founder and manager, Murray Huberfeld was charged for bribing a union leader with $60,000 in cash to secure a...
Authorities Freeze $120M Assets Of Tycoon Linked To Malaysian SWF
2016-07-22T11:51:59-04:00https://www.thetrustedinsight.com/investment-news/authorities-freeze-120m-assets-of-tycoon-linked-to-malaysian-swf-20160722395/
The authorities here have frozen some $120 million of funds and properties related to a businessman and his family.&nbsp;
Father And Son Charged In $10M Hedge Fund Fraud
2016-07-21T15:35:06-04:00https://www.thetrustedinsight.com/investment-news/father-and-son-charged-in-10m-hedge-fund-fraud-20160721356/
None
Bill Ackman Just Accused Carl Icahn Of Stock Fraud
2016-07-21T14:24:24-04:00https://www.thetrustedinsight.com/investment-news/bill-ackman-just-accused-carl-icahn-of-stock-fraud-20160721332/
And he thinks the SEC will investigate.
Ex-Visium Hedge Fund Manager Pleads Not Guilty To Fraud Scheme
2016-07-19T17:18:29-04:00https://www.thetrustedinsight.com/investment-news/ex-visium-hedge-fund-manager-pleads-not-guilty-to-fraud-scheme-20160719216/
NEW YORK, July 18 (Reuters) - A former portfolio manager at Visium Asset Management LP pleaded not guilty on Monday to charges that he engaged in a scheme to defraud investors by inflating the value...
Venture Capitalist Arrested On Fraud Charges
2016-07-17T14:17:00-04:00https://www.thetrustedinsight.com/investment-news/venture-capitalist-arrested-on-fraud-charges-20160717060/
Omar Amanat — who was once dubbed “the most powerful person in Hollywood you’ve never heard of” — was arrested on Wednesday on charges of participating in a conspiracy to defraud investors in a tech startup, Kit Digital Inc.
SEC Accuses Hedge Fund That Bet On Terror Lawsuits Of Fraud
2016-07-15T16:43:45-04:00https://www.thetrustedinsight.com/investment-news/sec-accuses-hedge-fund-that-bet-on-terror-lawsuits-of-fraud-20160715050/
A hedge fund that made a bet on the outcome of terrorism litigation was sued by the Securities and Exchange Commission for allegedly defrauding investors.
Ex-Charlotte Hedge Fund Manager Pleads Guilty To New Charges
2016-07-14T15:06:57-04:00https://www.thetrustedinsight.com/investment-news/ex-charlotte-hedge-fund-manager-pleads-guilty-to-new-charges-20160714976/
Stephen Maiden pleaded guilty July 1 to securities and wire fraud conspiracy charges, prosecutors sayFinancier was sentenced last year to seven years in prison in scheme that cost investors $8.9MProsecutors disclosed other charges in Kit Digital case this week &hellip; Click to Continue &raquo;